Die Zollgesetze der österreichisch-ungarischen Monarchie nach dem gegenwärtigen Stande der Gesetzgebung nebst allen auf die Einhebung und Verwaltung der Zölle Bezug habenden Vorschriften und Erlässen

The stock market crash - and after

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Monograph

Identifikator:: 834699508

URN:: urn:nbn:de:zbw-retromon-88487

Document type:: Monograph

Author:: Zauschner, E.

Title:: Die Zollgesetze der österreichisch-ungarischen Monarchie nach dem gegenwärtigen Stande der Gesetzgebung nebst allen auf die Einhebung und Verwaltung der Zölle Bezug habenden Vorschriften und Erlässen

Place of publication:: Wien

Publisher:: Beck

Year of publication:: 1871

Scope:: 1 Online-Ressource (LVII, 525 S.)

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

184 The Stock Market Crash—dAnd After I found he was right. Germans thought of com- modities as rising and thought of the American gold dollar as rising. They thought we had somehow cor- nered the gold of the world and were charging an outrageous price for it. But to them the mark was all the time the same mark. They lived and breathed and had their being in an atmosphere of marks, just as we in America live and breathe and have our being in an atmosphere of dollars. Professor Roman and I talked at length with twenty-four men and women whom we met by chance in our travels in Germany. Among these only one had any idea that the mark had changed. “Of course, all the others knew that prices had risen, but it never occurred to them that this rise had anything to do with the mark. They tried to explain it by the ‘supply and demand’ of other goods; by the blockade; by the destruction wrought by the war; by the American hoard of gold; by all manner of other things—exactly as in America, when, a few years ago, we ourselves talked about the ‘high cost of living,” we seldom heard anybody say that a change in the dollar had anything to do with it.” Gyrations of the Dollar But Germans and Americans alike kept their ac counts in what was, in reality, a fluctuating unit, in one case the mark and in the other the dollar. The dollar, reckoned as a yardstick of goods values, shrinks and expands. Doctor E. W. Kem- merer. who was an expert adviser to the Dawes

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